Los Angeles daily herald., 1887-03-18
ONE MILLION SHORT.
SWindler LayIOn, After Bcatin.
Everyone, Disappears.

Everyone, Disappears.
New YORK, March l7.--The place of
business of Walter E..Lawton, 81 Broad.
way, who did business under the firm
name OF Lawton Bros, in fertilizers,
was seized under three attachments from
the Supreme Court, on creditors claims
against them amounting to $245, 200.
Lawton was a direcor in the Delta
Azotin Company, and was entrusted
with 100000 in notes to discount for
the company on March 5th. Lawton is
said to have absconded with the pro.
ceeds of the discounted notes. On
Tuesday afternoon q number of the
banks were reported to be heavy
losers through the negotiation of
Lawton's papers. Just before leav.
ing the city Lawton drew from
the Third National Bank, on checks,
$4,000. The amount of his liabilities is
estimated at about $l,000,000. Lawton
is widower and is the sole represents
tive of the firm, his brother, who was
associated with him, having died some
time ago. Rufus T. kirkland, Lawton's
cashier, states that Tuesday Lawton
Withdrew all his funds from the different
banks in which he had deposits, and
took the money with him. Lawton,
before his departure, destroyed all
checks stubs and papers of every kind
from which any information could be
secured as to the disposition of the funds
and property. kirkland said Lawton
told him he intended to leave
the city by train; that he had
drawn out all money on deposit;
that he was ruined; that he did not
know what to do, and that he would
probably commit suicide. Lawton fur
ther said that he had exhausted his re.
sources and was not able to pay out
auy money in his possession. He left
Kirkland to take train.
The associates of Lawton look upon
his disappearance as a part OF Il gigan.
tic swindling operation. The book.
keeper of the firm is reported TO have
lost all he had in the world. One man
who is heavy loser said that Lawton
had overdrawn all his accounts; he got
all the money on his paper that he could;
had sold his house; had converted all
his property into cash. and then left for
England yesterday on his way to his
brother, who lives in Sussex. The
amount involved by his operations is
placed by everybody at over 81, 900, 900.
Lawton negotiated his paper through
the note brokerage firm of Titus, Mead
& Co., 81 Wall street, who have out not
less than 100000 of Laaton's endorse.
ments. Mead said Lawton was in his
cffice on Tuesday afternoon and took
some OF his paper with him, promising
to send Mead check for $4,000 on
Wednesday morning. The check did
not come and inquiries for Lawton de.
veloped the fact that he was missing.
Mead said the total of Lawton's liabili-
ties or defalcations might reach
$500, 200, and the cashier of the Third
National bank said it was between
$500, 900 or $400, 600. At the bank it
was said that Lawton had raised money
wherever he could and gone off. King,
an attorney, estimated that Lawton got
at least two hundred thousand dollars in
cash from the banks and on discounted
paper on the day of his departure. He
took money away with him. He also
NAV have had a good deal left of the
proceeds of claims. Mr. Killing repre-
sents $3.50, 900. 1t is known that he has
obtained at least $3.50, 900 on notes
from various banks. Nobody. could
give any intelligent statement about
Lawton's financial condition as
whole. No examination has yet been
made of the assets, if any there be, and,
though attachments have been served on
everything visible, including his Jersey
real estate and the Spuy ten Duyvel res.
idence, it is commonly believed that he
has transferred his interest in all such
property. His liabilities, so far as
known, though not yet collected in any
statement, are estimated at about
81 .OOO. 900. rather less than more.